PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0569%/8h= −62.3% APRnext payment −$0.71 per $10,000 · paid last 24h −0.007%

Price spread now: ApeX Omni against Kraken Futures−0.732%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$680.683% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)+0.519%+$52 · spread now −0.732%, 7d avg −0.050%

Together, before fees+0.419%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and ApeX Omni is 0.681% cheaper against Kraken Futures than usual: you would sell low and buy high (−$68 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.100% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.009117	0.0669	pay 0.0084% / 1h	24m 58s	$340K	$2.5M	50x
Short	ApeX Omni PENGUUSDT	0.009050	0.0100	get 0.0013% / 1h	24m 58s	$79K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now −0.732%Rate

Funding earned: −$119.55
Price spread: −0.732% → −0.050%: −$68.12
Slippage, 4 orders: −$48.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$255.96
Costs to cover: 0.683%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; ApeX Omni: live order book, 17 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 4 min ago	2.77 bp	18.5 bp −$18	48.0 bp −$480	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 17 min ago	6.06 bp	14.1 bp −$14	106.4 bp −$1,064	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009110	−0.072%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.595%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009116	−0.008%	$327K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009129	+0.138%	$643K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009107	−0.107%	$144K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009109	−0.084%	$137K	$276K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009108	−0.095%	$39.8M	$189.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009099	−0.194%	$24.1M	$44.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009102	−0.161%	$8.1M	$54.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009120	+0.036%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009105	−0.128%	$3.5M	$17.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009105	−0.128%	$11.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009110	−0.073%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009109	−0.084%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009106	−0.117%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009107	−0.106%	$310K	$362K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009105	−0.129%	$927K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009054	−0.688%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009050	−0.732%	$79K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009114	−0.030%	$23K	$226K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009335	+2.395%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009111	−0.063%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009134	+0.190%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009098	−0.207%	$187K	$526K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009105	−0.128%	$210K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0189%	1h	0.009115	−0.019%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009115	−0.016%	$308	—	10x	as long as short
Hyperliquid PENGU	+0.0266%	1h	0.009115	−0.019%	$9.2M	$16.3M	5x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009128	+0.124%	$209	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009117	+0.003%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009045	−0.786%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0639%	1h	0.009101	−0.167%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0669%	1h	0.009117	long leg	$340K	$2.5M	50x
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.201%	$80K	$70K	50x	as long as short